Thanks to a recent investment, open banking startup Deposit Solutions has become a unicorn.
Deutsche Bank has invested €50mn for a 4.9% stake.
Deposit Solutions is a German startup offering software to bring retail clients and lenders together.
It’s now Germany’s second most valuable FinTech after N26.
What does this mean?
The company’s valuation has more than doubled in just 13 months. Deuutsche Bank has not only provided capital for the business but will also offer services – and it already offers the FinTech’s tool to its clients.